Insurances Displeased By Media Reports

The Insurance Association of the BVI (IABVI) has taken a swing at its critics by stating that the way private insurers operate is “no secret” – maintaining that the principles of the current providers are still more clear cut than the soon to be implement National Health Insurance (NHI).

The organization issued a follow-up press release in response to comments in the press on the launch of the NHI; and the IABVI’s belief that some of the statements in the media needed to be refuted.

In making its clarifications the organization admitted that private companies pick and choose who they will insure, and noted that those who they will not insure should be provided for by Government.

“Insurance companies have never hidden the fact that some people are unprofitable to insure. That is where Government should step in. They are to provide the safety net for those who are unable to provide it for themselves, or where there is market failure,” The IABVI stated.

The private insurers also questioned the recourse procedure of the NHI, and announced that this is an area that is provided for in the Amended Insurance Act, 2008. In fact, the IABVI said: “All firms must have a complaints process, and if a customer is not happy they have recourse to take their complaint to the Commission. We do not duck and dodge when clients seek benefits promised to them, and if we did, unlike NHI there is a recourse process.”

A pensioner residing in Road Town said, “They (private insurances) pick what they like, after two heart operations I surely would not be a pick of theirs and if it was only up to private insurances where would I be be today? At the graveyard? Thanks to NDP government for NHI.”